The WazirX exchange has been under scrutiny recently due to a hack incident that resulted in the loss of $235 million worth of cryptocurrencies. In response to this, CEO Nischal Shetty announced plans to form a committee of WazirX creditors to address the financial losses faced by customers. However, there have been allegations that the selection process for this committee may not have been fair.
According to a Crypto X user, the WazirX leadership handpicked 10 members for the committee, choosing individuals who are close to them rather than selecting prominent Indian crypto influencers who could better represent the creditors. The user suggested names like Aditya Singh, Mr. Chitale, Mr. Alwin, @TheWeb3CA, Mr. Shiva, Mr. Vivek, and Mr. Jaivir as potential committee members who would be more impartial and effective in advocating for the customers.
The user also expressed doubts about the transparency of the selection process, claiming that the chances of being selected for the committee were minimal. Additionally, it was revealed that a significant portion of WazirX funds were held by a small number of customers, which could be a factor in why government agencies have been slow to act on the matter.
It is clear that there is growing frustration among WazirX customers regarding the handling of the hack incident and the subsequent formation of the creditors committee. The allegations of bias in the selection process raise concerns about the transparency and fairness of the exchange’s leadership. It remains to be seen how this situation will unfold and whether the voices of all WazirX customers will be adequately represented in the decision-making process.